Zambian president, Edgar Changa Lungu and Tullow Oil have announced the country’s first-ever oil survey
The full tensionometer survey will take place in Luapula province. It aims to identify potential oil reserves in the northwest of the country and is viewed as a step towards the Zambian economy reducing its reliance on copper exports.
Zambia has launched the seventh iteration of its National Development Plan. This plan makes provisions for creating 1mn new jobs over the next five years with a view to Zambia to becoming a middle-income country by 2030.
The president said: “My government has set a clear agenda to diversify the economy beyond copper and to realise the value of our other natural resources in a way which is transparent, sustainable and delivers positive impact for Zambians."
British High Commissioner Fergus Cochrane-Dyet OBE has also welcomed the launch of Zambia’s first ever oil and gas exploration survey by Tullow Oil.
Mr Cochrane-Dyet said: "British companies like Tullow Oil represent reliable partners for Zambia because they are covered by UK legislation that binds them to the highest standards."
"Zambia needs private sector investment from local and international companies, to win the battle against poverty, create jobs, and bring prosperity to all Zambians."
